Gold price is reaching new record highs as investors await tariff news, data.
The gold futures contract gained 1.16% on Monday, March 31, as it further extended its uptrend and reached yet another new record high above the $3,150 level. Gold keeps advancing amid geopolitics including tariff fears, stock market’s uncertainty and a weak U.S. dollar.
On November 14, gold was the lowest since mid-September after dropping in a reaction to the presidential elections. Gold extended its decline from the late October high, reaching a local low of $2,541.50.
This morning, gold is trading along its new record high, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.4% higher, as it is trading along the $3,160 level (new series of the futures contract). What about the other precious metals? Silver is 0.3% higher, platinum is 1.1% lower and palladium is unchanged. So, the main precious metals’ prices are higher this morning.
Yesterday’s Chicago PMI release has been higher than expected at 47.6. Today, we will get key ISM Manufacturing PMI and JOLTS Job Openings numbers at 10:00 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, April 1
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 8:30 a.m. Eurozone - ECB President Lagarde Speech
- 9:00 a.m. U.S. - FOMC Member Barkin Speech
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices, Construction Spending m/m
- Tentative, U.S. - RCM/TIPP Economic Optimism
- All Day, U.S. - Wards Total Vehicle Sales
Wednesday, April 2
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 10:00 a.m. U.S. - Factory Orders m/m
- 4:30 p.m. U.S. - FOMC Member Kugler Speech
Paul Rejczak
Stock Trading Strategist